Sebi awaits public view on Jalan panel report

The Securities and Exchange Board of India (Sebi) executive director JN Gupta on Monday said the regulator has not yet formed a view on the recommendation submitted by the Bimal Jalan committee. Sebi has given time till December 31 for market participants to send their suggestions and comments. "Once the public comments are received, Sebi will follow its normal process of actions," he said. But Gupta, who was also a member of the Jalan Committee, which reviewed the ownership structure and corporate governance of the market infrastructure institutions (MII),said the committee had tried to suggest measures that could keep pace with fast changing market practices and are capable of handling the outcome of a potential risk posed by these institutions. Other panelist who had come against the committee's key recommendations stated that globally stock exchanges remained stable even as big banks and financial institutions collapsed and hence there was no need for imposing stringent restrictions on stock exchange's operations.